Innovations In AI Facilitating Transformation Of The Business Ecosystem

By Hridkamal Roy | Tuesday, 10 March 2020, 10:14 IST

                                 Innovations In AI Facilitating Transformation Of The Business Ecosystem

With every passing day, something new comes into existence. And technology is that part of it which is everchanging. Artificial Intelligence was coined as a term back in 1956 at a conference in Dartmouth College, New Hampshire, and since then, this technology has been subject to multiple innovations and implementations. Every business sector has understood the importance of getting advanced technology on board in order to increase business and brand value at the same time.

There are several benefits and risks of using artificial intelligence. All the data being cloud-based, there is always the risk of theft and piracy, but on the brighter side, as the AI technology is becoming more and more common, cybersecurity solution providers are also coming up with advanced protective measures.  As artificial intelligence applications are picking up the pace, the world is changing its points of view on different subjects. E.g., the usage of AI in the field of customer services has benefitted numerous organizations in gathering volumes of customer feedback and requirement data. It has been possible only because AI systems have the capability to work 24*7, which helps them send automated replies to users all across the globe at any given point of day or night.

Going further, there are several industries that are using the technology of AI up to its full potential. The fashion industry is one of the industries that is majorly implementing AI into their business structures. The usage of advanced robotics and artificial intelligence in sales and marketing has become a very common aspect in the fashion industry.

Sundar Pichai, CEO, Google said, “AI is one of the most promising new technologies” that has “the potential to improve billions of lives,” but has also warned the industries of the disadvantages if the progress is left unchecked. Infact a lot of disruptions are taking place in the cybersecurity sector. An advanced system based on AI will require a more advanced security system that would be able to detect and protect it from any possible damage.

 “History is full of examples of how technology’s virtues aren’t guaranteed. The internet made it possible to connect with anyone and get information from anywhere, but also easier for misinformation to spread”, he added.

 Google’s conversational AI project Meena has been said to be a true digital assistant which will be able to go to different tangents of a conversation. Unlike the current digital assistants Alexa and Siri which pick the keywords from a conversation and can only respond in a singular tangent. Whereas, Google claims that Meena wil be able to pick up multiple keywords from the same conversation and answer from every possible tangent.

Various AI implementations are being carried out in many other sectors that include automotive and healthcare among several other sectors. 

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